INTRO TAX $-$ HOMEWORK #$1$

has a $$3,000$ RRSP deduction available as a subdivision e deduction. Two years ago, Mr$.$ T suffered a very serious loss on his rental properties, and has a Non$-$capital Loss carryover that he is going to take as a Division C deduction. The only Division E benefit that Mr$.$ T will have is the basic personal tax credit.

What will Mr$.$ T$\text{'}$s Federal Tax payable be$,$ based on the following additional information?

Employment income

Employment deductions

Income from business

Capital gains on stocks

Capital losses on stocks

Loss on rental properties

Non$-$capital loss carryover

$$100,000$

$2,000$

$2,000$

$20,000$

$10,000$

$5,000$

$20,000$

Complete the following table to present the solution, showing the Part. Division and Subdivision for each item required in the table:

Part Division

Subdivision

Description

Amount